Fourth Quarter Planning -The Home Stretch of 2024

How do you prepare for what is traditionally called the back-to-school period -- or, the Fourth Quarter? I see it as the home stretch - stretching for the rest of the year, revisiting, and building on how to realign goals. What intentions have you set up and, importantly, what are your deadlines to reach those goals?

Now that we are back after taking the last few days of August to enjoy the traditional end-of-summer holiday weekend, it's a great opportunity to take a moment and pause. Think back to the goals you set out for yourself and your company at the start of this year and evaluate your current progress. Then think about what you need to do -- how are you tracking ahead as you move further into 2024 and compare where you were in 2023. Do you see growth? 

I just reviewed our goals for 2024 at Slater Success.  We worked diligently on releasing a Succession Planning Toolkit earlier this year. That was a major goal we set for ourselves.

  • Succession planning is a strategic approach designed to capture crucial knowledge and legacy, setting your business up for long-term growth and sustainability. 

  • Effective succession planning not only secures the continuity of leadership but also preserves the institutional knowledge and culture vital for sustained success. 

π—’π˜‚π—Ώ π˜π—Όπ—Όπ—Ήπ—Έπ—Άπ˜ π—°π—Όπ˜ƒπ—²π—Ώπ˜€:
- Capturing key knowledge and legacy
- Ensuring smooth leadership transitions
- Maintaining and enhancing company culture

We're also working on updating our Slater Success website. It’s so important to review your website -- a major communications tool --  with current practices, current language, and yes, current photography and graphics too.

  • Announcements regarding the updated website release will be made shortly.

Fourth Quarter planning involves reviewing the four components of your strategic plan: finances, marketing, sales, and your team. Another tip is don’t wait until the end of the year to connect with your financial advisors -- your CFO, your CPA, your bookkeeper. You should be having conversations with them early in the fourth quarter. How are they suggesting you prepare for 2025? 

  • I had a law firm client almost go out of business when they had to pay $100,000 in taxes because they weren't prepared. Have these vital conversations with your financial team now, not in 2025. 

Take a minute to consider these fourth quarter planning steps:

  1. Step One: Take a look at what goals and objectives you set for yourself and your company this year.

  2. Step Two: How and where are you tracking your objectives?

  3. Step Three: Analyze all your data and set the action plan for what the home stretch of the year will look like for you.

  4. Step Four: Put your action plans and deadlines in place and follow through on them.

  5. Step Five: Feel free to let us know how you do.

Looking forward to cheering on your success. ☺

Ready to Transform Your Business Strategy?

Connect with Slater Success today to learn more about fourth quarter planning. Together, we'll harvest the power of creative ideas and inspiration for your business's success. 

No matter what industry you are in, our expertise can guide you towards expanding your business by year-end and for every year to come. Let's collaborate to cultivate innovation, foster customer connections, and set your business to continuous success.

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